The board will consider approving its managing underwriter, Citigroup Global Markets Inc., to prepare, price and tentatively market the bond that would be taken out of the $158 million maximum general obligation bonds approved by voters on Nov. 8, 2011.
The monies from the sale of the bonds would be used to fund board-approved current and future construction projects listed in the district’s Five Year Capital Outlay Plan and the 2012-13 capital outlay budget.
Representatives from Citigroup Global Markets Inc. will present the pricing results of these bonds to the board at its Oct. 18 regularly scheduled meeting and request the board adopt a bond resolution to fund the projects.
Proceeds from the sale of the bonds would subsequently be transferred to the district’s financial account on or near Oct. 30.
Also at the meeting, the board will consider:
* Approval or denial of the superintendent’s financial report and sales tax update as of July 31, which will include the district’s operating account or general fund of $91,153 in revenue, with $36,453 or 19 percent of the budget in federal funds and $54,700 or less than 1 percent of the budget from other local sources; the capital outlay fund balance of $27,541,542; the current Education Special Purpose Local Option Sales Tax collections, including $2,615,861 received in the month of July, which is above both monthly and cumulative projections after approximately four years of sales tax collections below projections;
* Approval or denial of training hour requirements at nine hours for veteran board members, including three hours of training with the entire board; full board including the superintendent for three hours; and new board members requiring 15 hours of training, which include three hours of local orientation and at least five hours of school finance and budgeting. The requirements are recommended by the Georgia Board of Education and also call for local boards to develop and submit an annual training program aligned with the state board’s governance standards;
* Approval or denial of the superintendent’s recommendation to transfer the ownership of the original Woodstock Elementary School site to the State Facilities Commission on behalf of Chattahoochee Technical College. The district entered a lease agreement with the former Appalachian Technical College on July 1, 2004, but it prevents the facility’s owner from receiving some state grant funding and also affects the college’s ability to borrow funds for capital improvements. According to the meeting agenda, the superintendent said ending the lease agreement would be “fiscally advantageous” for both parties as CCSD has been responsible for insuring the site and building;
* Recognize CCSD teachers selected as Georgia Advanced Placement “Master Teachers,” the CCSD Police Department for achieving state re-accreditation, John Haas for winning the Georgia Optimist Oratorical Contest, the 2012 Sequoyah Regional Technology Fair winners and student participants in the 2011-12 Duke University Talent Identification Program (TIP); and
* Enter into executive session to discuss a real estate matter.
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